By Abba -Eku Onyeka
The Joint Committee of the Senate and House of Representatives on Finance hosted Ministries, Departments, and Agencies (MDAs) for budget defense with a focus on analyzing their 2024 performances and projections for 2025.
According to Senator Sani Musa, Chairman of the Senate Committee on Finance, the committee’s primary objective was to scrutinize the MDAs’ expenditures in 2024 and their proposed budgets for 2025. The committee aimed to identify areas where costs could be optimized and evaluate the differences in expenditure between 2023 and 2024.
Senator Musa emphasized that the committee’s projections for 2025 are based on a thorough analysis of the MDAs’ performances. He expressed confidence that the revenue targets set by the committee are achievable, stating that: “The more revenue we are making, the more we are reducing our deficits.”
Addressing concerns about government borrowing, Senator Musa noted that taking loans is a common practice among governments. However, he assured that the Fiscal Responsibility Act ensures that the government does not exceed its borrowing limits, indicating that the economy is improving.
The budget defense session is a critical step in the preparation of the 2025 budget, as it enables the committee to make informed decisions about resource allocation and ensure that the government’s fiscal policies are aligned with its development goals.
